Best Tax Attorneys in Concord

FAQs

• Where does the Tax Court hold trial sessions closest to Concord, North Carolina?

  The closest trial court session to Concord, North Carolina, is at Hiram H. Ward Federal Building in Winston-Salem.

• Where is the low-income taxpayer clinic that is closest to Concord, North Carolina?

  The low-income taxpayer clinic that is closest to Concord is the North Carolina Low-Income Taxpayer Clinic located at 5535 Albemarle Road in Charlotte, NC.

• What is the income tax rate in Concord, North Carolina?

  North Carolina's flat income tax rate is 4.99% after it was radically changed by the North Carolina Tax Simplification and Reduction Act in 2013. Before this reform, the state employed a progressive income tax system featuring tax rates varying from 6% to 7.75%. However, the new legislation introduced a flat rate income tax and substantially increased the standard deduction available to taxpayers in the state.

• Are there any local taxes in Concord?

  North Carolina residents are subject to a range of taxes. It levies a state sales tax rate of 4.75% on most goods and services. Additionally, local jurisdictions have the authority to impose their own sales taxes, resulting in a maximum local sales tax rate of 2.75%. The state also imposes a corporate income tax rate of 2.50%, which applies to corporate entities operating within the state.

• Can a tax attorney help you with tax planning?

  Tax attorneys are well-versed in tax laws and regulations, making them excellent resources for tax planning. They can provide expert guidance on the impact of tax laws on individuals and businesses. They can also help you develop strategies to minimize your tax liabilities, take advantage of available deductions and credits, and ensure compliance with tax laws.

• What should you do if you are being audited by the IRS in North Carolina?

  Facing an IRS audit doesn't automatically indicate wrongdoing on your part. There are situations where you may need professional assistance. If you disagree with the audit findings and wish to challenge or dispute them or if the audit escalates to the point where the IRS takes legal action against you, it becomes crucial to consult a tax attorney.

• Who is responsible for administering tax laws in Concord?

  In Concord, North Carolina, the administration and enforcement of tax laws fall under the jurisdiction of multiple entities, each responsible for specific types of taxes. The primary agencies involved in tax administration in Concord include:

  • Cabarrus County Tax Administration - The Cabarrus County Tax Administration is responsible for assessing and collecting property taxes within the jurisdiction of Concord.
  • North Carolina Department of Revenue - The NCDOR is responsible for administering various state-level taxes, including income tax, sales and use tax, corporate income tax, and other state-specific taxes.